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So, who’s up for buying some shares in Meridian?

Written By: - Date published: 8:59 am, June 5th, 2013 - 40 comments
Categories: privatisation - Tags:

mighty river power share price history

Here’s English on the likely take up of the sale of Meridian:

We would expect that it will give New Zealanders the opportunity to invest in a large New Zealand company, and tens of thousands of them are likely to do so.

Tens of thousands.

For reference, they expected 250,000 investors in Mighty River but only 113,000 showed up.

40 comments on “So, who’s up for buying some shares in Meridian?”

  1. Yes, I’ll be in! After all the dividends are likely to be good – Meridian’s not going anywhere and government stewardship on the other 51% will look after it, it’s likely to make a half decent return.

    • Hayden 1.1

      government stewardship on the other 51% will look after it

      Like they did with Solid Energy?

    • Lightly 1.2

      Bear in mind that Meridian has the most to lose from NZ Power.

    • Pascal's bookie 1.3

      Checked out your blog PMofYourOwnLunchtime.

      Just so you know, the MOM companies will be governed in accordance with the principles of the Treaty of Waitangi, via the govt’s controlling stake. So I guess that means you won’t be investing afterall.

      Also you have the completely wrong end of the stick on the MANA candidate issue. They weren’t political donations, he doesn’t have his ‘hand in a till’. The man had cancer ffs, and a fundraiser was held, and one of the fund raising groups said he should keep the money they raised, because beating cancer is tough even when you do qualify for state funded treatments.

  2. quartz 2

    I might buy MRP shares when the Meridian float drives them into the ground.

  3. Winston Smith 3

    Yeah probably will

  4. Asset stripping is so 1980s. New Zealanders are going to experience the fun Americans had first hand when the power sector was privatized, that means power price increases to serve shareholders with the running down of infrastructure to reduce power capacity. The same will happen with Meridian and Mighty River Power.

  5. The Gormless Fool formerly known as Oleolebiscuitbarrell 5

    “For reference, they expected 250,000 investors in Mighty River but only 113,000 showed up.”

    I wonder why.

    • dumrse 5.1

      Economic sabotage if I recall otherwise the entire 250,000 would have taken up the offer.

      • felix 5.1.1

        Lolz, half of those registered were cats and dogs or people registered without their knowledge against their will.

        • dumrse 5.1.1.1

          I didn’t realise that, I suppose I should have asked to see the registration documents just like you did, then I wouldnt feel like such a fucking dick.

          • felix 5.1.1.1.1

            Nah I think you’d still feel a bit of a dick, having missed all the media reports about MPs laying police complaints having been registered against their will and without their permission, and you also missed the weeks of boasting on the blogs and on talkback from people who thought they were super smart and signing up their kids and pets, thinking they’d get allocated extra shares.

            Missed it all, straight down the memory hole.

            Fact is the website was set up so anyone could register as many “people” as they liked. There never were 400,000 people looking for shares.

            Sure, no-one knows exactly how many genuine people registered, but we do know for sure that it wasn’t the reported 400,000. I’d say it’s a lot closer to 113,000, but what the fuck would I know, I’m only basing this on the facts and figures that actually occurred in reality which can clearly be no match for your entirely hypothetical scenario with no supporting data at all.

  6. Lanthanide 6

    MRP is probably a good buy around $1.90 or so.

    • lprent 6.1

      That looks like where it is heading. I’d expect it to sit around that $2 mark for quite a while as that looks like a reasonable return at that level unless the major shareholder forces them to raise more debt (for expansion like solid energy – yeah right) to pay for unsustainable dividends.

      • Colonial Viper 6.1.1

        unless the major shareholder forces them to raise more debt (for expansion like solid energy – yeah right) to pay for unsustainable dividends.

        effectively collateralising the assets of the power generator to drain dry its balance sheet.

  7. Saarbo 7

    hahaha…lets face it, this National party is a fucking joke. They are hopeless and are being held afloat by a compliant msm.

    The Meridian Energy float is dead, as Winston Peters would say…”its GONE”

  8. Saarbo 8

    hahaha…lets face it, this National party is a fucking joke. They are hopeless and are being held afloat by a compliant msm.

    The Meridian Energy float is dead, as Winston Peters would say…”its GONE”

  9. Rich the other 9

    M R P
    Clearly this proves the Govt were NOT looking after there mates but are working in the best interests of all NZers.

    green/labour, wrong again.
    The joint policy announced by them on electricity demonstrates how destructive to our
    economy they are prepared to be.

    Voter BEWARE.

    • framu 9.1

      “Clearly this proves the Govt were NOT looking after there mates but are working in the best interests of all NZers.”

      how exactly?

      We know who ended up buying shares and for the most part, it wasnt “mums and dads”

      • The Gormless Fool formerly known as Oleolebiscuitbarrell 9.1.1

        ..and yet your position is that whoever has bought them has been sold a pup?

        • Colonial Viper 9.1.1.1

          smart institutions have already offloaded, and are slowly buying back up at a discount to the IPO

    • Saarbo 9.2

      Not “destructive’, just clever. Its a very good policy, the only downside is that it makes these power companies less attractive if they are privatised, so complain all you like RTO, but this policy is a winner for most of the population.

  10. Tom Gould 10

    Can the Tory cronies who were strong-armed into buying MRP shares put the loss down as a political donation and claim it?

  11. As long as the green party exists, i wont buy shares in new zealand companies.

  12. Mr Interest 12

    DAS EXPERIMENT: The Great National Party Experiment


    Lets make a good impression
    No Lies and no complaints to visitors
    We all feel very comfortable don’t we?
    We all want to earn our money in peace and quiet (aka.. sell our country out). Right?
    Is that you, 77?
    Yes Mr Prison Guard
    Whoever stinks gets no visitor…….
    Into the black box….

    Listen….Whoever touches the duct tape will be sitting next to 82

    I didn’t want this… I thought that….

    The sad outcome:
    Two dead, three injured (asset sales maybe…………the public///)
    Among them project leader
    Professor Klaus Thon (John …. whats his name again)
    Obviously the experiment got out of control after 2 days ( 2 terms in office)
    The district attorney is investigating (yeah right)
    2 casees of suspected manslaughter and several cases of mistreatment and failure to provide assistance
    One of the test persons has been arrested.
    The project directors will probably have to answer to a court
    According to statements of one of the scientists involved the escalation could’ve been prevented by earlier aborting the experiment.
    Remember…The National Party Motto …….
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei
    arbeit macht frei

    The great ponzi scheme is upon us…..

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